FSEG vs. GRPZ

Last updated Jul 21, 2026

FSEG (Fidelity Enhanced Small Cap Growth ETF) and GRPZ (Invesco S&P Smallcap 600 GARP ETF) are both Small Cap Growth Equities funds. FSEG is actively managed, while GRPZ is passively managed. A 0.52 correlation means they provide meaningful diversification when combined. FSEG charges 0.28%/yr vs 0.35%/yr for GRPZ.

Performance

FSEG vs. GRPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Small Cap Growth ETF (FSEG) and Invesco S&P Smallcap 600 GARP ETF (GRPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSEG

• 1D: -0.52%
• 1M: -2.01%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

GRPZ

• 1D: -0.30%
• 1M: 5.64%
• 6M: 14.96%
• YTD: 22.30%
• 1Y: 29.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.55%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FSEG vs. GRPZ - Yearly Performance Comparison

	2026 (YTD)
FSEG Fidelity Enhanced Small Cap Growth ETF	8.12%
GRPZ Invesco S&P Smallcap 600 GARP ETF	10.15%

Correlation

The correlation between FSEG and GRPZ is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 30, 2026	0.52

FSEG vs. GRPZ - Sectors Allocation Comparison

Sectors	FSEG	GRPZ
Healthcare	29.3%	18.9%
Technology	23.3%	12.3%
Industrials	15.7%	12.8%
Consumer Cyclical	9.2%	9.3%
Financial Services	8.6%	26.9%
Basic Materials	5.2%	0.9%
Energy	4.1%	3.6%
Communication Services	1.9%	3.8%
Real Estate	1.3%	2.8%
Consumer Defensive	0.6%	8.6%
Utilities	-	-

Return for Risk

FSEG vs. GRPZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSEG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

GRPZ

GRPZ Risk / Return Rank: 72
GRPZ Sharpe Ratio Rank: 70
GRPZ Sortino Ratio Rank: 77
GRPZ Omega Ratio Rank: 64
GRPZ Calmar Ratio Rank: 80
GRPZ Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSEG vs. GRPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Small Cap Growth ETF (FSEG) and Invesco S&P Smallcap 600 GARP ETF (GRPZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FSEG	GRPZ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.69	—
Sortino ratio: Return per unit of downside risk	—	2.59	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	3.09	—
Martin ratio: Return relative to average drawdown	—	8.88	—

Drawdowns

FSEG vs. GRPZ - Drawdown Comparison

The maximum FSEG drawdown since its inception was -5.19%, smaller than the maximum GRPZ drawdown of -27.87%. Use the drawdown chart below to compare losses from any high point for FSEG and GRPZ.

Drawdown Indicators

	FSEG	GRPZ	Difference
Max Drawdown Largest peak-to-trough decline	-5.19%	-27.87%	+22.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.53%	—
Current Drawdown Current decline from peak	-5.19%	-1.26%	-3.93%
Average Drawdown Average peak-to-trough decline	-1.58%	-6.66%	+5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.31%	—

Volatility

Volatility by Period

	FSEG	GRPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.73%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.55%	17.48%	+4.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.55%	20.85%	+0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.55%	20.85%	+0.70%

FSEG vs. GRPZ - Expense Ratio Comparison

FSEG has a 0.28% expense ratio, which is lower than GRPZ's 0.35% expense ratio.

Dividends

FSEG vs. GRPZ - Dividend Comparison

FSEG's dividend yield for the trailing twelve months is around 0.03%, less than GRPZ's 0.89% yield.

Position	TTM	2025	2024
FSEG Fidelity Enhanced Small Cap Growth ETF	0.03%	0.00%	0.00%
GRPZ Invesco S&P Smallcap 600 GARP ETF	0.89%	0.97%	0.73%

Frequently Asked Questions

Can I hold both FSEG and GRPZ in my portfolio?

FSEG and GRPZ have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FSEG or GRPZ?

On fees, FSEG is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSEG or GRPZ?

FSEG is cheaper with a 0.28% expense ratio, compared with 0.35% for GRPZ.

Which ETF pays a higher dividend yield, FSEG or GRPZ?

GRPZ has the higher dividend yield at 0.89%, compared with 0.03% for FSEG.

What is the main difference between FSEG and GRPZ?

They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.28% for FSEG and 0.35% for GRPZ.